Redwood Capital Bancorp (OTCMKTS:RWCB) Sees Large Increase in Short Interest

Redwood Capital Bancorp (OTCMKTS:RWCB) was the recipient of a large growth in short interest during the month of December. As of December 15th, there was short interest totaling 204 shares, a growth of 3,300.0% from the November 30th total of 6 shares. Based on an average daily trading volume, of 2,866 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily trading volume, of 2,866 shares, the days-to-cover ratio is presently 0.1 days.

Redwood Capital Bancorp Price Performance

Shares of RWCB stock traded down $0.95 during trading hours on Wednesday, hitting $28.50. The stock had a trading volume of 597 shares, compared to its average volume of 3,051. The stock’s 50 day moving average is $27.93 and its 200 day moving average is $25.65. Redwood Capital Bancorp has a twelve month low of $20.41 and a twelve month high of $29.65.

Redwood Capital Bancorp announced that its Board of Directors has authorized a stock repurchase program on Monday, September 22nd that allows the company to buyback $1.00 million in shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

About Redwood Capital Bancorp

Redwood Capital Bancorp is the bank holding company for Redwood Capital Bank FSB, a community-oriented financial institution headquartered in Santa Rosa, California. As a federally chartered savings bank, it provides a full range of deposit and lending products to individuals, small businesses, and professional clients, with a focus on personalized service and local decision-making.

The company’s deposit portfolio includes checking and savings accounts, money market funds, and certificates of deposit, all designed to meet the needs of both personal and commercial clients.